Social Security Payments Overseas

“I have gold and silver coins that I would like to move out of the United States. Will there be anyone at your upcoming Emergency Offshore Summit addressing the issue of how to get coins out of U.S.?”

— Victor W., United States

Depending on the value of the coins, you could carry them out of the country with you. Remember the US$10,000 limit on taking currency across international borders. Note, though, that this limit means you have to report that you’re carrying currency valued at that amount or more…not that you can’t carry it.

Yes, we’ll have bankers and other advisors at the conference who will be able to advise further.

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“My wife and I have considered investing overseas, and now more recently we are looking at living overseas. We both receive Social Security, and we know that, if we move, we can continue to receive our Social Security, even having it direct deposited into an account in another country. But what about if we become citizens of another country and renounce U.S. citizenship? Would we still be eligible to receive our Social Security benefits?”

— Gene S., United States

You can continue to receive your Social Security benefits if you become a citizen of another country but also keep your U.S. citizenship; that is, you have dual citizenship.

In addition, if you relinquish your U.S. citizenship, the answer is still yes, in many cases. That is, you can continue receiving U.S. Social Security benefits as a citizen of a number of other countries, even if you’re living outside the United States, and no matter how long you reside elsewhere. These countries include: Austria, Belgium, Canada, Chile, Czech Republic, Finland, France, Germany, Greece, Ireland, Israel, Italy, Japan, South Korea, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.

 

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